Visa Inc (NYSE:V) after Tuesday’s closing bell reported fiscal third-quarter 2023 net income of $4.16 billion, or adjusted earnings of $2.16 per share, which surpassed the Zacks Investment Research consensus estimate of $2.11 per share.
The global payments processor generated revenue for the period of $8.12 billion, which also beat estimates of $8.06 billion, as the company cited 'resilient' spending as travel recovery continues.
In April, Visa saw its 2Q revenue rise by 11% year-over-year to $8 billion, ahead of the consensus analyst expectation of $7.74 billion, while generating better-than-expected adjusted net income of $2.09 per share.
Its results were lifted by a double-digit increase in payment volumes as travel-related spending continued to recover from the pandemic lockdowns.
Shares of Visa were little changed in Tuesday’s after-hours trading session but have gained 15% in the year to date.
Contact Sean at sean@proactiveinvestors.com